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Dollar declines, yen hits 40-year low
The value of the US dollar declined against the major currencies, with the dollar index reaching 101.28 points, heading towards a 1.4% increase for the quarter, after rising 1.6% at the start of the year. The Japanese yen fell to its lowest level since 1986, recording 162.41 against the dollar, raising concerns about a potential intervention by Tokyo in the currency market. The euro also dropped to $1.1403, and the Australian dollar reached its lowest point in three months at $0.6867. Meanwhile, the British pound declined to $1.3237.
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